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Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."

In 2014, Pisani was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."

Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.

Follow Bob Pisani on Twitter @BobPisani.

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    U.S. futures were dropping all through the early morning as European manufacturing numbers were weak. Italian and Spanish PMI were both below 50, showing continuing contraction. Even Germany came in at 46.2, a tad below expectations and firmly in contraction territory.

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    Huh? A short squeeze on the ISM? Sure looks like it. With the spate of disappointing economic numbers recently, seems like traders were short the market ahead of the April ISM number.

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    Everything's closed! It's May Day, there are rallies across Europe, everything except the U.K. and Irish markets are closed.

  • Strange close. Volume spiked dramatically in the last couple minutes. NYSE floor volume went from below 600 million to 851 million in a couple minutes. It's easy to blame this on end of the month trading, but it happened on Friday as well.

  • Financial Crisis

    The regional manufacturing indexes — including this morning’s Chicago and Dallas figures — have almost without exception been below expectations. If the April ISM, out tomorrow, and the April jobs report, due out Friday, are also below expectations, we will see gross domestic product growth revised downward by many firms.

  • European Central Bank

    Ireland redux: Now there is word the Spanish government wants to create a "bad bank" (or series of "bad banks") to restructure the banking system. Weekend reports suggest the Spanish government is examining the creation of a "bad bank" similar to Ireland’s plan as part of an effort to restructuring the banking system.

  • Two things might affect that old saw.

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    First look at U.S. first quarter gross domestic product was disappointing, at 2.2 percent, well below consensus of 2.6 percent. Much of the debate on the U.S. economy could be summed up simply: Do you think growth will be north of 2.5 percent this year, or south of that? More ammunition for the bears.

  • Why am I on my high horse about not liking the markets today? Because a whole bunch of indicators are flashing warnings.

  • Why are we up today? You can thank the long reach of Fed Chairman Ben Bernanke. Love him or hate him, love QE3 (quantitative easing) or hate QE3, Mr. Bernanke has gotten good at this game.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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